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Govt may strike off 2.25 lakh companies for not filing financial statement

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Govt may strike off 2.25 lakh companies for not filing financial statement

The government has identified over 2.25 lakh companies and 7,191 Limited Liability Partnerships (LLPs) which have not filed requisite financial statement for 2015-16 and 2016-17, and they may be struck off during the current financial year, said Ministry of Finance in a statement.

The Ministry of Corporate Affairs (MCA) has already struck off over 2.26 lakh companies for non- filing of financial statements or annual returns for a continuous period of 2 years or more, said the statement.

Also, over 3.09 lakh directors were disqualified for not filing financial statements or annual returns for preceding 3 years (2013-14, 2014-15 and 2015-16).

“For the second drive to be launched during 2018-19), 2,25,910 companies have been further identified for being struck off under section 248 of the Companies Act, 2013…for non-filing of financial statements for 2015-16 and 2016-17,” the statement said.

Also, 7,191 LLPs have been identified for action under section 75 of the LLP Act, 2008 due to non-filing of financial statements for the stated years, it said. These companies and LLPs will be given an opportunity of being heard by way of notices regarding their default and the proposed action. Appropriate action will be taken after considering their response, the statement said.

A task force headed by Finance Secretary Hasmukh Adhia and MCA Secretary Injeti Srinivas was set up in February 2017 to check the menace of shell companies through a coordinated, multi-agency approach. The task force has compiled a database of shell companies and classified them into 3 categories– Confirmed list, Derived list and Suspect list. The Confirmed List has a total of 16,537 confirmed shell companies on the basis of the information received from the various law enforcement agencies of the companies found to be involved in illegal activities.

The ‘derived list’ has 16,739 companies identified on the basis of 100 per cent common directorships with the confirmed shell companies. The ‘suspect list’ has 80,670 suspected shell companies and has been drawn up by SFIO using certain red flag Indicators.

The Task Force has identified certain red flag Indicators, which will be used to identify more shell companies, the statement said.

The Task Force has directed all member law enforcement agencies to send the details of action taken against chartered accountants by them to ICAI, it said. The ex- directors / authorised signatories of the struck-off companies have been restricted from operating the bank accounts of these companies and they cannot withdraw any amount from these bank accounts, other than for specified purposes, till the company is restored u/s 252 of the Companies Act, it said.

The Ministry of Corporate affairs will also be launching a public awareness campaign soon to make the public aware of the need to get the registrations of their defunct companies cancelled themselves, it said.

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Jharkhand government appeals to students to end recruitment exam protest

A Jharkhand government panel appealed to protesting students to end their agitation, saying authorities have accepted most of their demands.

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The Jharkhand government on Sunday appealed to students protesting over irregularities in recruitment examinations to withdraw their agitation and resolve the issue through dialogue.

A government panel said it was unfortunate that the students remained unwilling to end their protest despite authorities agreeing to most of their demands. The students, however, have maintained that they will continue the agitation until their demand for a CBI probe into the alleged irregularities is accepted.

The panel comprising Higher and Technical Education Minister Sudivya Kumar, Rural Development Minister Dipika Pandey Singh, Labour Minister Sanjay Prasad Yadav and Welfare Minister Chamra Linda addressed the media after a two-hour meeting.

Jharkhand government says ready for probes

Sudivya Kumar said the government had no intention of protecting anyone involved in alleged examination irregularities and was ready for investigations.

“It is unfortunate that students are not ready to withdraw the agitation, though we agreed to most of their demands,” Kumar said.

He appealed to the students and their parents to end the agitation and opt for dialogue to resolve the matter.

The government has also launched a portal inviting suggestions from students on examination reforms. Kumar said a Standard Operating Procedure would be prepared for conducting recruitment examinations transparently.

Security arrangements ahead of August 10 march

The panel said security arrangements had been made in view of the students’ planned march to the Jharkhand Assembly on August 10.

It also said steps would be taken to ensure that no student is harassed during the protest.

The students continued to press for a CBI probe into the alleged irregularities despite Chief Minister Hemant Soren and Governor Santosh Kumar Gangwar assuring them of justice.

Students remain firm on CBI probe demand

A fresh round of talks between the government and the protesting students earlier failed to produce a breakthrough.

The authorities said they had accepted 98 per cent of the students’ demands, with the demand for a CBI probe into alleged irregularities in the JSSC-CGL examination remaining the key point of disagreement.

Despite six rounds of talks, the students have continued their agitation, insisting that the alleged irregularities be investigated by the CBI.

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India News

Assam Floods: Death toll reaches 100 as over 1.37 lakh affected

Assam’s flood death toll has reached 100, with over 1.37 lakh people affected across seven districts, according to ASDMA.

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Assam floods

The flood situation in Assam remained critical on Sunday as two more people died in separate incidents, taking the death toll from this year’s floods to 100, according to an official bulletin.

The Assam State Disaster Management Authority (ASDMA) said one person each drowned in floodwaters in Golaghat and Karbi Anglong districts during the last 24 hours.

More than 1.37 lakh people are currently affected by the floods across seven districts — Charaideo, Darrang, Golaghat, Jorhat, Karbi Anglong, Nagaon and Sivasagar.

Golaghat worst hit

Golaghat remains the worst-affected district, with nearly 70,000 people impacted by the floods. Sivasagar has around 40,000 affected people, while more than 16,000 people have been affected in Jorhat.

The flood situation has shown a slight improvement compared with Saturday, when nearly 1.5 lakh people across eight districts were affected.

Authorities are currently operating 125 relief camps and relief distribution centres across six districts. Around 49,061 flood-affected people are taking shelter at these facilities.

Relief supplies distributed

Over the last 24 hours, authorities distributed 710.44 quintals of rice, 127.85 quintals of dal, 38.34 quintals of salt and 3,773.7 litres of mustard oil among people affected by the floods.

Despite the slight improvement, 456 villages remain inundated. The floods have also damaged 11,933.46 hectares of cropland.

Floodwaters have caused damage to embankments, roads, bridges and other infrastructure in several districts.

Rivers above danger level

According to the ASDMA, Dhansiri at Golaghat and Numaligarh, along with the Kushiyara at Sribhumi, are currently flowing above the danger level.

The floods have also affected 43,331 domestic animals and poultry across Assam.

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Weather Updates: Delhi crosses August rainfall average in first eight days

Delhi has crossed its average August rainfall in just eight days, recording 230.1 mm at Safdarjung against the monthly average of 226.8 mm.

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Delhi Rains

Delhi has already surpassed its average rainfall for the month of August, with the Safdarjung Observatory recording 230.1 mm of rain in the first eight days of the month.

According to the India Meteorological Department (IMD), Delhi’s average total rainfall for August is 226.8 mm, based on the 1991-2020 climatological period.

Safdarjung had recorded 225.7 mm of rainfall between August 1 and 8.30 am on Saturday. A further 4.4 mm of rain was recorded between 8.30 am and 5.30 pm, taking the month’s cumulative rainfall to 230.1 mm.

Delhi records wettest August day in two years

The national capital also witnessed its wettest August day in two years on Saturday. Safdarjung received 98.7 mm of rainfall in the 24 hours ending at 8.30 am.

The last time Delhi recorded higher rainfall on a single August day was on August 1, 2024, when 107.6 mm of rain was recorded.

The city has been witnessing rainfall for the fourth consecutive day.

The IMD has forecast light to very light rainfall at some places in Delhi over the next two days.

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